ICD AUTOPAY™ TRIGGERS CISCO’S LARGEST MONEY MARKET FUND TRADE TO DATE
SAN FRANCISCO, March 5, 2014 /PRNewswire/ — Institutional Cash Distributors (ICD) today announced that Cisco Systems, Inc. the worldwide leader in Internet Technology, used ICD AutoPay to generate Cisco’s largest ever Money Market Fund trade of $8 billion.
ICD AutoPay is a breakthrough technological advancement for corporate treasury departments that increases efficiency by automating wire requests from approved trade orders. This eliminates the need for cash managers to login to their bank to request wires to settle purchase transactions. ICD AutoPay’s key differentiator is its patent-pending TrueMark EST™ (Encapsulated Security Token) technology that locks in approved cash channels and requires a SWIFT message with matching bank details before wire requests are forwarded to the client’s bank. ICD AutoPay mitigates the risk of cybercriminals, rogue traders and/or human error of sending funds to unapproved destinations.
Roger Biscay, Vice-President, Treasurer & Global Risk Management, Cisco Systems, said, “We have been an ICD client for over ten years. I have always been impressed with ICD’s ability to go to market with products that are ahead of the competition. AutoPay enables my team to seamlessly invest around the world in a safe and secure environment through one simple execution.”
“Since our inception, we’ve been focused on providing superior products and services,” said ICD Chairman & Co-founder Tom Newton. “Just as our risk management application Transparency Plus revolutionized our clients’ ability to drill down into a fund’s portfolio holdings, ICD’s AutoPay technology now revolutionizes how clients securely wire money to settle their investments.”
ICD is treasury’s trusted, independent portal provider of money market funds and other short-term investments. We bring together the treasury investment community and the market’s fund companies to deliver unbiased access to over 300 investment products, leading market experts, and intuitive technology. Our award-winning ICD Portal is a model in the industry for trading, reporting and analysis. Focused solely on the needs of the treasury investment community, ICD is always putting Treasury First. Our expert service is offered through our Global Trading Desk, spanning London, Boston and San Francisco.